August 2015 Revenue and Visitation Numbers

August 2015 Gaming Revenue and Visitor Statistics have been released.

Las Vegas visitation was up slightly increasing +1.6% in August year over year. Citywide occupancy was also up slightly (+0.7%) but surprisingly average room rates and revenue per available room were down somewhat significantly (-5.8% and -5% respectively). Total room nights occupied were flat. I'm pretty surprised that room rates dropped, especially considering that convention attendance was +26.1% year over year.

Downtown however was strong with occupancy (+5.3%), average daily rate (+6.8%), and revenue per available room (+14.3%) all trending upwards.

Air traffic was also up again in August, increasing +7.2% year over year.

Gaming revenue on the Strip was down -4.65%. Every major table game was down double digits, reflecting continuing softness in the high end market. Slot machines on the Strip were +12% though which was probably reflective of the higher visitation and conventioneers in town.

Downtown had more good news with total gaming revenue up +15%. This result was fueled by slot machines (+23.2%) offsetting a small decline in table games (-3.39%). Higher visitation helps slot play, and downtown has definitely been busy lately.

The up and down Las Vegas locals market was up this time, as the Boulder Strip was +29.74% in August while North Las Vegas was +21.2% year over year.

It looks like the Strip has been pretty average over the past few months, while downtown remains strong. I'm not sure you can say that "gamblers are moving downtown" since the two markets are so different, but you can definitely sense the continuation of the downtown resurgence that has been a few years in the making. The strong locals numbers for August probably helped downtown as well.